The paper presents an empirical analysis on investment and export subsidies in Italy on a large sample of qualitative and quantitative microdata from 1989 to 1997. We find that the probability of being subsidized is generally af fected by the lobbying capacity of potential recipients....

After the Second World War, as the Assemblea Costituente was drafting the new republican Constitution, an intense debate took place among its members as to what model to adopt for the Italian economy. A special Commission, the "Credit Commission", was set up to revise the 1936 banking law,...